Imran Khan To Seek Xi’s Help To Revive CPEC, Dwindling Economy Ahead Of Beijing Olympics Opening Ceremony
Pakistan prime minister Imran Khan will aim to revive the China-Pakistan Economic Corridor (CPEC) project during his meeting with Chinese president Xi Jinping which is scheduled to be held later this week, according to a report by Pakistan news agency Dawn. The Pakistan prime minister will join a handful of world leaders who will attend the Beijing Winter Olympics opening ceremony.
The Pakistan Foreign Office said that Khan will also meet Chinese Premier Li Keqiang. During the meet, both leaders will discuss the entire gamut of bilateral relations, the statement from the foreign office said.
Pakistan finance minister Shaukat Tarin said Imran will ask Xi to relocate Chinese industries to Pakistan’s special economic zones. He is also likely to ask Xi to help transform the agricultural sector of the nation. Pakistan foreign minister Shah Mahmood Qureshi while speaking to the nation’s state-run Radio Pakistan said that Imran Khan will meet heads of companies who are eager to invest in Pakistan.
The nation’s national security advisor Moeed Yusuf said that Imran Khan will also discuss the Afghanistan issue with the Chinese president. Yusuf said that discussions will focus on mitigating the crisis.
The Asian Development Bank (ADB), hours before Imran’s visit, released a report where it said that structural reforms are necessary for the development of the China-Pakistan Economic Corridor (CPEC) project. The study titled ‘Economic Corridor Development in Pakistan: Concept, Framework, and Case Studies’ highlighted that CPEC itself will not yield results.
“Structural reforms for private sector development are needed as well. Also, tax reforms are essential to broaden the tax base and enhance the perceived fairness of the tax system. Infrastructure built under the CPEC should be fully utilised to expand trade and regional cooperation,” the study said.
The study pointed out three problems – low productivity, lack of competitiveness and unfavourable trade policy environment – as reasons which played a key role for the lack of successful implementation of the CPEC corridor.
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